South Korea Radioligand Therapy Market Insights Forecasts to 2033

• The South Korea Radioligand Therapy Market Size was Estimated at Remarkable Share in 2023
• The Market Size is Growing at 4.9% CAGR from 2023 to 2033.
• The South Korea Radioligand Therapy Market Size is expected to reach a significant share by 2033.

The South Korea Radioligand Therapy Market Size is Expected to reach a significant share by 2033, Growing at a 4.9% CAGR from 2023 to 2033.     

Market Overview

The South Korea radioligand therapy market focuses on the use of targeted radiopharmaceuticals to treat cancer and other diseases by delivering radioactive isotopes directly to damaged cells. This therapy combines ligands (molecules that attach to specific receptors on cancer cells) with radioisotopes including lutetium-177, actinium-225, and iodine-131, allowing for precision radiation administration while limiting damage to healthy organs. Radioligand treatment is largely used to treat prostate cancer, neuroendocrine tumours (NETs), and other cancers, providing an advanced and individualized approach to oncology. Furthermore, cooperation and partnerships between pharmaceutical companies, hospitals, and research institutes are hastening drug development and regulatory approval. The South Korean government is also streamlining regulatory routes to help the business develop. Furthermore, increased clinical trials and research are resulting in new indications and enhanced formulations, while rising patient awareness and demand, particularly among the elderly, is fueling uptake.

Report Coverage

This research report categorizes the market for the South Korea radioligand therapy market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea radioligand therapy market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea radioligand therapy market.

Driving Factors

Several important drivers drive the South Korea radioligand therapy market, including the rising prevalence of cancer, particularly prostate cancer and neuroendocrine tumors (NETs), which increases demand for advanced and targeted treatment alternatives. The increased use of precision medicine is also driving the industry, as radioligand therapy provides a highly targeted method with little adverse effects. Technological advances in radioisotopes such as Lutetium-177 and Actinium-225 are increasing therapy efficacy and broadening therapeutic uses.

Furthermore, South Korea's excellent nuclear medicine infrastructure and government assistance are considerably boosting industry growth. The Korean Ministry of Food and Drug Safety (MFDS) is expediting regulatory approvals for radiopharmaceuticals to encourage earlier market access. Increased healthcare financing and advances in nuclear medicine facilities make these therapies more accessible and affordable. Major pharmaceutical corporations and research institutions in South Korea are actively participating in clinical trials, research collaborations, and strategic alliances to accelerate the development of new radioligand treatments.

Restraining Factors

The South Korea radioligand therapy market is constrained by high costs associated with radiopharmaceuticals and nuclear medicine infrastructure, which limits access for some patients. Strict regulatory regulations and lengthy licensing processes for radioligand therapy might cause delays in market entry and product acceptance. Furthermore, the scarcity of radioisotopes and the need for specialized production and processing facilities make wider adoption difficult.

Market Segment

• The lutetium-177 segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the radioisotope type, the South Korea radioligand therapy market is divided into lutetium-177, actinium-225, iodine-131, and others. Among these, the lutetium-177 segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This supremacy stems mostly from its shown success in treating prostate cancer and neuroendocrine tumors (NETs), which are among the most prevalent indications for radioligand therapy. Lutetium-177-based therapies, such as Lutetium-177 PSMA for prostate cancer and Lutetium-177 DOTATATE for NETs, have shown great success rates with little side effects, prompting growing acceptance by healthcare professionals.

• The prostate cancer segment accounted for the majority of the share in 2023 and is estimated to grow at the significant CAGR during the projected timeframe.

Based on the application, the South Korea radioligand therapy market is divided into prostate cancer, neuroendocrine tumors, and others. Among these, the prostate cancer segment accounted for the majority of the share in 2023 and is estimated to grow at the significant CAGR during the projected timeframe. The high prevalence of prostate cancer, combined with the efficacy of Lutetium-177 PSMA-targeted medicines, has accelerated the use of radioligand therapy for this indication. Because Lutetium-177-based treatments have demonstrated encouraging clinical outcomes in targeting prostate cancer cells with great accuracy, this category is projected to maintain its dominance.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea radioligand therapy market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Eckert & Ziegler Radiopharma
• Novartis
• Bayer AG
• Siemens Healthineers
• Janssen Pharmaceuticals (Johnson & Johnson)
• GE Healthcare
• TheraPharm
• Lantheus Medical Imaging
• Canberra Industries, Inc. (A part of Mirion Technologies)
• International Atomic Energy Agency (IAEA)
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea Radioligand Therapy Market based on the below-mentioned segments:

South Korea Radioligand Therapy Market, By Radioisotope Type

• Lutetium-177
• Actinium-225
• Iodine-131
• Others

South Korea Radioligand Therapy Market, By Application

• Prostate Cancer
• Neuroendocrine Tumors
• Others